Identity-theft protection servcices are in the news because of activities of a company called Lifelock, Inc., which paid millions of dollars in 2010 to settle claims of deceptive advertising. However, that hasn't stopped Lifelock from stopping its misleading ads, using conservative talk show host Rush Limbaugh, using all sorts of scare-mongering tactics.
How useful are all these identity-theft protection services, anyway? It turns out it is not about securing your computer, credit cards, bank accounts and social security information. This post explains the reality and here are the main points (highlights are mine):
1. ...most of them monitor your credit reports for unauthorized activity. If and when they spot something amiss, they will send you an alert. Just bear in mind you can check your own credit reports once a year for free.
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